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XTL Biopharm Ltd (XTL)

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Wednesday 05 January, 2005

XTL Biopharm Ltd

XTLbio announces Board change

XTL Biopharmaceuticals Ltd
05 January 2005

XTLbio announces Board changes

Rehovot, 5 January 2005 - XTL Biopharmaceuticals Ltd. (LSE: XTL) ('XTLbio' or
the 'Company') announced today that Dr Geoffrey Vernon has informed the Board of
Directors (the 'Board') that due to family health reasons he is stepping down as
Non Executive Chairman with immediate effect. Dr Vernon will continue in his
role as a non Executive Director. Elkan Gamzu PhD replaces Dr Vernon as interim
Chairman of the Board. Dr Gamzu also continues in his role as interim Chief
Executive Officer until the appointment of a permanent Chief Executive Officer.
The Company is continuing its search process for the recruitment of a permanent
Chief Executive Officer.

Elkan Gamzu PhD, Chairman, commenting on Dr Vernon said 'Geoffrey has played an
important role in the advancement of XTLbio from a small research-based company
to its current status of a multinational biotech company with two potential
products in the clinic. Originally, he represented one of the early UK Venture
Capital investments in XTLbio, and later became Chairman of the Board as an
independent Director.  Geoffrey played a major role in the flotation of XTLbio
on the London Stock Exchange and we are grateful for all his contributions to
date and look forward to his continued participation at the Board level.'

Geoffrey Vernon said, 'XTL is currently undergoing a process of change with the
resignation of its CEO, the search for a new CEO and its move towards a listing
on Nasdaq. Unfortunately, due to family health issues, I am unable to make
available the substantially increased time commitments that are now necessary to
fulfil the role of Chairman during this transition period. I shall continue to
provide my support to the Company and the Board in my role as Non-Executive

In addition, Dr. Martin Becker, informed the Company that he is resigning from
his position as a Director of the Board, with immediate effect. This follows an
announcement by the Company on 18 November 2004 that Dr. Becker was stepping
down from his role of Chief Executive Officer and President with effect from 1
January 2005.

Dr. Elkan Gamzu
Interim CEO
Tel: +1 617 621 1570

Financial Dynamics
David Yates / Julia Phillips
Tel: +44 (0) 20 7831 3113

Notes to Editors

XTL Biopharmaceuticals Ltd. (XTLbio) is a biopharmaceutical company developing
drugs against hepatitis. XTLbio's HepeXTM product line - now in clinical trials
- has the potential to introduce revolutionary therapies for viral hepatitis,
including prevention of re-infection in transplanted livers, the Company's
primary focus, and a longer-term cocktail approach in treating chronic illness.
XTLbio believes its primary competitive advantage lies in its patented TrimeraTM
technology, which enables the development of fully human monoclonal antibodies
and models of human disease for pre-clinical drug validation. Established in
1993, XTLbio became a public company in 2000 and its shares are listed on the
Official List of the UK Listing Authority and are traded on the London Stock
Exchange under the symbol XTL.

                      This information is provided by RNS
            The company news service from the London Stock Exchange